Updated 24 February 2022 at 05:18 IST
Why did BharatPe sack Ashneer Grover's wife Madhuri Jain? All you need to know
Madhuri Jain has been terminated from the company allegedly for practising financial irregularities and producing fake invoices to bill the company.
- Republic Business
- 3 min read
Â
Fintech company BharatPe has been in controversy since a purported audio clip of abusive language of embattled co-founder Ashneer Grover against Kotak Mahindra Bank staff went viral on several social media platforms. However, this time, his wife, Madhuri Jain Grover, who was the head of controls in the same organisation, has hit the headlines after she was sacked from BharatPe on Wednesday. According to a report by news agency PTI, Madhuri has been terminated from the company allegedly for practising financial irregularities ranging from producing fake invoices to billing the company for personal beauty treatment and trips abroad.
When the news agency contacted BharatPe's spokesperson, he confirmed the media reports about her termination but denied sharing further details. A source familiar with the development told PTI said BharatPe has cancelled all the 244 unvested and 56 vested employee stock options (ESOPs). Though Madhuri Jain Grover did not respond to the multiple mails of the news agency, she took to Twitter and, posted a series of messages and videos alleging the environment of the company was very toxic. Check the posts of Ashneer Grover wife here:
The whole thing is a conspiracy. Why did @mickymalka and @HarshjitSethi of @Sequoia_India seek my resignation on 19.1.22 (same day Ashneer went on voluntary leave) ? The current review is clearly just an eyewash and means to an end. Why was @SuhailSameer14 taking instructions ? pic.twitter.com/fc4m5X0W8V
— Madhuri Jain Grover (@madsj30) February 23, 2022
@AMS_Shardul and A&M never presented a single document to me when I was called. They did not present me any proofs for me to address. Where is concept of natural justice? I have learned of allegations from media. A&M has not till date been able to explain how their report leaked.
— Madhuri Jain Grover (@madsj30) February 23, 2022
Mr Rajnish Kumar - what’s the governance review process under your Chairmanship where everything is leaked ? Board minutes, appointments of 3rd parties, A&M report, termination letters, arbitrations ? I never heard of so many leaks in your whole tenure at SBI. What’s broken ?
— Madhuri Jain Grover (@madsj30) February 23, 2022
Jain, an undergraduate student of NIFT Delhi, and wife of BharatPe co-founder, who built a cult due to his aggressive behaviour on the show Shark Tank India, was last month sent on leave. According to PTI sources, she was sent on leave within days of her husband announcing a three-month leave of absence after the purported audio clip went viral. As per the allegations levelled by BharatPe on Jain, she allegedly shared confidential information that was used by her father and brother. Those data were used to create and raise invoices on the company under the camouflage of certain third parties.
Madhuri Jain purchased TV and refrigerators and presented fake bills
Also, the company allegedly found that she had presented a number of bills that were allegedly used for personal use and travel. BharatPe allegedly found she had purchased televisions (a LED TV and a Sony Bravia 65-inch) and a fridge for her residence in April last year and presented fake bills in the name of company expenses. Notably, these bills were later signed and passed by her as she was financial in charge of the company since October 2018. "As per your query, we can confirm that services of Madhuri Jain Grover have been terminated in accordance with the terms of her employment agreement," PTI quoted a BharatPe spokesperson as saying. The spokesperson, however, did not give reasons for the termination. Her services were terminated effective February 22.
Advertisement
With inputs from PTI
Image: Instagram/ashneer.grover
Published By : Ajeet Kumar
Published On: 24 February 2022 at 05:18 IST